When you are a business owner, location is quite pertinent to your success. You want to be in the right location for your customers and demographic, but you also want to have a reasonable rent price. Are you running your business in New York City? Since the beginning of the pandemic, Manhattan has become an even more difficult place to operate a successful business.
Depending on where you are at in your life and operations, it is always an option to expand out of the Big Apple and into the rest of the tri-state area. While Manhattan is the epicenter of business in not just the region but the whole country, that doesn’t necessarily mean that you should only operate there. There are plenty of opportunities elsewhere. Below are some of the best places to expand your business in the tri-state area.
The Other Boroughs
In New York, it is so easy to stay in Manhattan if you have built your life and business there. However, there are plenty of opportunities in the outer boroughs. It always depends on what kind of business you are running, but there are markets for many products in Brooklyn, Queens, the Bronx, and Staten Island.
Hip people will travel for your boutique and artisan products like coffee, and you can get a better rent if you are running a factory or warehouse operation. Restaurants often have a better chance with cheaper rent. People like to drink at good bars all over the city. Whatever your business, there are plenty of opportunities for businesses in the outer boroughs.
Boston is another great option for expanding your business. It is a metropolis like NYC, but the rent isn’t as high as Manhattan. People love good food, good drink, and good products. Still, if you aren’t giving it your all, the people in Boston might ridicule you. Boston has high-brow and low-brow. There are intellectuals, but most people are down to Earth. All the characteristics of this great city combine to make it a great place to expand your business. If you’re a brewery, a restaurant, or even a clothing manufacturer, you might just be able to expand your business in Boston.
Another option for expanding your business to a large city in the tri-state area is Philadelphia. The capital of Pennsylvania has all kinds of people. You can find your target demographic in this city. Whether you are selling shoes, making food, or are expanding your comedy club, Philadelphia can accommodate all kinds of businesses. If you haven’t been to Philadelphia to check out all this city has to offer, you should make a trip. Find hotels in Philadelphia to get familiar with the city and see how you can expand your business here. Like Boston, Philadelphia has enough people and opportunity to make it a viable option for expansion.
Much of New Jersey isn’t far away from New York City, and the prices immediately go down. Furthermore, the state has a similar countenance and attitude. You can likely expand your business to New Jersey if you are offering a product the people will want. Are you a pizza joint? Do you have a chain of bars? What about a hotel and casino business? You probably know already if your business will fit into New Jersey, but if it will it’s a great first step to expanding outside of New York.
If you are looking for a quiet place to expand your business to a more suburban crowd, Connecticut might be a good option. Is your business’s target demographic college students? Then you will be able to market to college students around the state. Connecticut may not have the hustle and bustle of these other places, but maybe that’s what you are looking for. If it’s time to move or expand your business somewhere quieter, Connecticut could be a good option.
Running a business of any kind in NYC can be a difficult thing. There are always higher rents and more obstacles. Whether your business is successful in the city and you want to expand, or if you are trying to relocate altogether, there are plenty of places in the tri-state area you shouldn’t overlook.
The post The Best Places to Expand Your Business in the Tri-State Area first appeared on Mind My Business.